EU presses Ukraine on reforms as Kyiv seeks $30 billion in additional funding
European Union officials have told Ukraine they want to see progress on economic and legal reforms before providing additional budget support, as Kyiv seeks help covering an unexpected funding gap of about €26 billion ($30 billion), Bloomberg reported.
European Commission President Ursula von der Leyen and Volodymyr Zelenskyy discussed the issue during a meeting in New York on Tuesday that a person briefed on the talks described to Bloomberg as tense.
Ukraine has asked its partners to help cover the budget shortfall and urged the EU to accelerate disbursement of a €90 billion loan intended to support the country through the end of 2027.
EU officials have questioned some of Ukraine's estimates and suggested that other partners, including Canada, Norway and Japan, contribute additional funding, according to Bloomberg.
The EU is also seeking progress on legislation aimed at reducing the shadow economy, increasing tax revenue and bringing Ukrainian law closer to EU standards.
“More defence support is coming. And as reforms in the Rada progress, more budget support too,” von der Leyen said after the meeting, adding that the EU still has €37 billion available for Ukraine this calendar year.
Zelenskyy said Ukrainian and EU teams would meet again in seven to 10 days to continue discussions and expressed hope that a solution would be found.
Bloomberg reported that the talks came as Kyiv expressed concern over the risk of intensified Russian attacks during the winter and shortages of air-defense interceptors. Ukrainian officials were also angered by the EU's decision to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list.